1. Home
  2. Browse Decisions
  3. F.2d
  4. 153 F.2d
  5. 153 F.2d 690 (1946)
 

KING OIL CO. v. COMMISSIONER OF INTERNAL REVENUE

No. 11316.

153 F.2d 690 (1946)

KING OIL CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Fifth Circuit.

February 18, 1946.

Attorney(s) appearing for the Case

Harry C. Weeks, of Fort Worth, Tex., for petitioner.

Robert N. Anderson, Helen R. Carloss, and Maryhelen Wigle, Sp. Assts. to Atty. Gen., Sewall Key, Acting Asst. Atty. Gen., and J. P. Wenchel, Chief Counsel, Bureau of Internal Revenue, and Bernard D. Daniels, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., for respondent.

Before McCORD, WALLER, and LEE, Circuit Judges.

LEE, Circuit Judge.

When petitioner, a Delaware corporation,1 filed its income and excess profits tax return for the calendar year 1939, it deducted from gross income,2 as ordinary and necessary business expense, intangible costs incurred in the drilling and development of wells on certain leasehold properties in Texas as follows:3

                                  ...

                    
                    
                    

                        

                            

                                
                            

                            

                                

                                    
    
                                        
  1. 
                                        
  2. 
                                        
  3. 
                                    

                                

                                

                                    
Let's get started

                                

                                

                                    

                                    Leagle.com
                                    

                                    Welcome to the leading source of independent legal reporting 
                                    

                                        Sign on now to see your case. 
                                        

                                        Or view more than 10 million decisions and orders.
                                        

                                        
    
                                            
  • Updated daily.
    • 
                                            
  • Uncompromising quality.
    • 
                                            
  • Complete, Accurate, Current.
    •

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases